EU expands regional financing approach in Africa

From the newsletter

The European Union is stepping up support for Africa’s hydrogen ambitions, announcing $5.1 billion in guarantees to mobilise investment in Mediterranean renewable energy and clean technologies, including a $667 million green ammonia project in Egypt. The initiative raises hopes that the bloc’s regional financing approach could extend to other African hydrogen markets. 

• The EU remains a major backer of Africa’s green hydrogen ambitions, using guarantees and blended finance to help mobilise investment as it advances its decarbonisation goals and clean energy partnerships. 

• A regional financing approach will help countries address shared barriers to green hydrogen development.

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